§ 2049-n. Agreement with the town. The town is authorized to pledge to and agree with the holders of any bonds issued by the authority pursuant to this title that the town will not limit or impair the rights hereby vested in the authority to purchase, construct, maintain, operate, repair, improve, increase, enlarge, extend, reconstruct, renovate, rehabilitate or dispose of any project, or any part or parts thereof, for which bonds of the authority shall have been issued, to establish and collect rates, rents, fees and other charges referred to in this title and to fulfill the terms of any agreements made with the holders of the bonds or with any public corporation or person with reference to such project or part thereof, or in any way impair the rights and remedies of the bondholders, until the bonds, together with interest thereon, with interest on any unpaid installments of interest and all costs and expenses in connection with any action or proceeding by or on behalf of the bondholders are fully met and discharged.

Terms Used In N.Y. Public Authorities Law 2049-N

  • Authority: shall mean the public benefit corporation created by section two thousand forty-nine-c of this title, known as the town of North Hempstead solid waste management authority. See N.Y. Public Authorities Law 2049-B
  • Bonds: shall mean the bonds, notes or other evidences of indebtedness issued by the authority pursuant to this title and the provisions of this title relating to bonds and bondholders shall apply with equal force and effect to notes and noteholders, respectively, unless the context otherwise clearly requires. See N.Y. Public Authorities Law 2049-B
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Person: shall mean any natural person, partnership, association, joint venture or corporation, exclusive of a public corporation. See N.Y. Public Authorities Law 2049-B
  • Project: shall mean any solid waste management-resource recovery facility of which, or any portion of which, the planning, development, financing, construction, operation or maintenance is authorized to be undertaken in whole or in part by the authority pursuant to this title. See N.Y. Public Authorities Law 2049-B
  • Town: shall mean the town of North Hempstead. See N.Y. Public Authorities Law 2049-B
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